Oppenheimer Keeps a Hold Rating on Iqiyi (IQ)
Oppenheimer analyst Bo Pei CFA maintained a Hold rating on Iqiyi (IQ) today. The company’s shares closed last Tuesday at $19.31.
According to TipRanks.com, CFA is a 1-star analyst with an average return of -1.7% and a 50.0% success rate. CFA covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, BlueCity Holdings, and Yalla Group.
Currently, the analyst consensus on Iqiyi is a Hold with an average price target of $21.44.
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Based on Iqiyi’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $7.19 billion and GAAP net loss of $1.17 billion. In comparison, last year the company earned revenue of $7.4 billion and had a GAAP net loss of $3.69 billion.
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iQIYI, Inc. engages in the provision of internet video streaming services. It also operates a smart television streaming service and an entertainment-based social media platform, iQIYI Paopao. The company was founded by Yu Gong in November 2009 and is headquartered in Haidan District, China.